CM to inaugurate 2-day conference

Panaji, Aug 22 (UNI) Chief Minister Digambar Kamat will be inaugurating a 2-day conference on ''Marketing of Indian Iron Ore'', organised under the aegis of the Federation of Indian Mineral Industries(FIMI) here tomorrow.

''The main issue is how to maximise the economic benefit against the world iron ore scenario and other compelling social and cultural issues related to the industry including maximisation of exploration and beneficiation of the ore,'' FIMI president Mr.Rahul N.Baldota told mediapersons here today.

Besides experts from the industry, the conference will be attended by about 400 delegates including 100 from abroad, besides secretaries of union mines and steel ministries.

Achieving higher productivity through technology upgradation, conservation, creation of suitable infrastructure and further exploration in known and unknown areas and conducive liberalized policy framework are among the issues for discussion, according to FIMI secretary general Mr.R.K.Sharma.

''Resources with 25 billion tonnes of ore are not the constraint but the tardy investment in the mining and infrastructure development which could be done through private-public-participation,'' they said.

The industry, they said, was anxiously waiting for the policy initiatives of the government on the basis of the Huda committee recommendations, which favoured faster clearances for receiving even boosted FDI in the sector,they said.

With no initiative taken, the industry attracted only Rs.400 crore foreign investment in the exploration sector so far as against Rs.4000 crores expected by the RBI, the duo regretted.

They further deplored tardy mining of the captive mines under the steel gaints like the SAIL and Telco as against the private mines, who for want of industry, could not go beyond 50 metre depth.

Unfortunately, lack of investment and encouragement had forced some of the miners to shut down their operations or work below the capacity with no new mine opoened in the last two decades.

The industry was producing 165 million tonnes of iron ore as against the indigenous requirement of 55 million tonnes consumed by the steel industry. The remaining had been exported with China emerging as the import driver.

China was importing more ore because it had been experiencing capacity addition eacy year. It was expected to add 510 million tonne steel capacity addition next year as against 75 million tonnes rise this year.

With the levy of export duty of Rs.250 per tonne on lower grade ore from this fiscal, the exports had fell down by 9.09 in the first quarter this fiscal, they added.

UNI